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Stock Market Today
The benchmark BSE Sensex Today 14 Oct 2022 fell 390 points on Thursday as a result of significant selling in banking, finance, and capital goods firms amid inflation and GDP worries.
Traders said that a weak rupee and rising oil prices influenced the market mood. The 30-share BSE Sensex fell 390.58 points, or 0.68 percent, to 57,235.33. Similarly, the NSE Nifty slid 109.25 points, or 0.64 percent, to 17,014.35.
Wipro led the Sensex Today 14 Oct 2022 pack in losses, falling 7.03 percent, followed by SBI, L&T, ICICI Bank, Asian Paints, Bajaj Finance, and the HDFC twins. HCL Tech, Sun Pharma, Dr Reddy’s Reliance Industries, and Ultra Tech Cement, on the other hand, were among the gainers, increasing up to 3.19 percent.
Sensex Today
The BSE benchmark Sensex Today 14 Oct 2022 made a low of 57,056 and remained in the red the whole day. Finally, the Sensex dropped 391 points to close at 57,235. Moving forward, attention will be given to the US CPI statistics and the Infosys Q2 results which will be announced later today.
Nifty50
The Nifty is finding continuous support at the 200-day SMA (Simple Moving Average), or 16950 while facing stiff opposition above 17150. If the index trades below 16950, a severe corrective wave is probable, and subsequent declines might take it as low as 16800-16700.
Dow Jones Today
At the opening, the Dow Jones Industrial Average decreased by 455.0 points, or 1.56%, to reach 28755.83. The Nasdaq Composite sank 285.3 points, or 2.74%, to 10131.816 at the opening bell, while the S&P 500 slid 56.7 points, or 1.58%, to 3520.37.
DAX Index
The Spanish Ibex (-1.5%) and the UK’s FTSE 100 (-0.70%) led the drops in European markets, respectively. Even if the German DAX index was still holding onto a tiny gain, the recent trend has been negative, and further declines may be on the way as worries about the state of the world economy continue to grow.
Nasdaq Index
After statistics revealed a larger-than-expected increase in consumer prices last month, the Nasdaq led the losses as Wall Street’s major indexes began substantially down on Thursday. This gave the Federal Reserve more justification to continue its hawkish rate hike policy.
Bank Nifty Today
The Bank Nifty index experienced some selling pressure at the top end and is facing hard resistance at the 39,500-40,000 region, where aggressive call writing has been observed. The index is still in a downward trend, with lower high and lower low patterns.
If the index falls below 38,400 on a closing basis, it will continue to fall towards 38,000-37,500 levels. The immediate upward resistance is above 39,000, which if broken will result in some short covering moves.
S and P 500
U.S. Treasury rates increased immediately after the CPI report was released as markets started to discount a more ferocious hiking cycle by the Federal Reserve, as shown in the Fed futures chart below (2023 contracts). The change in rates boosted the value of the dollar sign, but it also hurt equities, causing the S&P 500 to fall by about 2% at the time of this writing. The prospect that the central bank would need to increase borrowing costs more quickly to stop soaring price pressures should support the dollar going forward and support the negative bias in the stock market.
SGX Nifty
The SGX Nifty indicates a bad start. The Singapore Exchange’s Nifty futures traded 52.5 points, or 0.31 percent, down at 17,052.5, indicating that Dalal Street will have a bad start to the day on Thursday.
Crude Oil Futures
After the market was weakened in the previous day by a deteriorating picture of global demand, oil prices struggled to regain their footing in early Asian trade on Thursday.
By Thursday, Brent oil futures had dropped 51 cents, or 0.5%, to $93.78 per barrel. US West Texas Intermediate crude was down 69 cents or 0.8% at $88.66 a barrel.
Gold Silver Price
According to HDFC Securities, the price of gold in the national capital increased by Rs 42 to Rs 51,255 per 10 kilos on Thursday as the price of the precious metal increased on the worldwide market. The price of 10 grams of yellow gold had reached Rs 51,213 in the previous session. However, silver’s price fell from Rs 58,210 per kilogram to Rs 57,717 per kg, a decrease of Rs 493. Silver was down at USD 19.03 per ounce while gold was trading in the green at USD 1,672.2 per ounce on the global market.
Stock Market Today’s Top Gainers
Top Gainers in Today’s Stock Market are
| HCL TECH | 982.05 | +3.19% |
| SUN PHARMA | 968.50 | +1.36% |
| RELIANCE | 2383.85 | +0.37% |
| DR REDDY | 4251.25 | +0.23% |
| ULTRA CEMCO | 6181.70 | +0.08% |
Stock Market Today Top Losers
The top Losers in Today’s Stock Market are
| WIPRO | 379.10 | -7.03% |
| SBIN | 521.35 | -2.36% |
| LT | 1876.00 | -1.85% |
| ICICI BANK | 853.90 | -1.60% |
| ASIANPAINT | 3211.25 | -1.12% |
Overall World Stock Market
Markets remained volatile as weak Asian signals dampened the slide, however upbeat European markets managed to mitigate the fall. The latest drop has been driven by the negative atmosphere caused by global economic uncertainties.
Banking equities faced the brunt of the general gloom, as investors worried that higher interest rates would reduce credit demand.